State Senator Julian Cyr Reveals Real Estate Tax Plan

State Senator Julian Cyr is out with his plan to increase taxes on some real estate deals and use that money to fund affordable housing projects in the state. 

Under the Cyr proposal local communities would have the option to add a 2% surcharge on large real estate deals to create the funding.

State Rep Dylan Fernandez supporting the measure as well saying that the state is in the middle of a housing crisis and the fund is necessary. 

Under the proposal if you bought a 3 million dollar home, it would cost you an extra 5 grand in taxes.  

US Dollar bills, veer of money

Photo: Getty Images North America

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